2.1 Statement of Compliance and Basis of Preparation:

The standalone financial statement of the company has been prepared in accordance with Indian Accounting Standards (IND
AS) notified under Section 133 of the Companies Act, 2013 ('The Act’), read with Rule 3 of the Companies (Indian Accounting
Standards) Rules, 2015 (as amended from time to time) and presentation requirements of Division II of Schedule III to the Companies
Act, 2013, (IND AS compliant Schedule III), as applicable to the standalone financial statement. In addition, the guidance notes/
announcements issued by the Institute of Chartered Accountants of India (ICAI) are also applied except where compliance with
other statutory promulgations require a different treatment.

These standalone financial statements have been prepared and presented under the historical cost convention, on the accrual
basis of accounting except for certain financial assets and financial liabilities that are measured at fair values at the end of each
reporting period, as stated in the accounting policies set out below. The accounting policies have been applied consistently over all
the periods presented in these standalone financial statements. The Company has prepared the financial statements on the basis
that it will continue to operate as a going concern.

2.2 Functional and presentation currency:

These standalone financial statements are presented in Indian Rupees (INR), which is also the Company’s functional currency. All
amounts have been rounded-off to the nearest lakhs, unless otherwise stated.

2.3 Key accounting estimates and judgements:

The preparation of the Company’s standalone financial statements requires the management to make judgements, estimates and
assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures,
and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that
require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Critical accounting estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are
described below.

a) Property, Plant and Equipment:

Property, Plant and Equipment represents a significant proportion of the asset base of the Company. The charge in respect
of periodic depreciation is derived after determining an estimate of an asset’s expected useful lives specified in Schedule II
to the Companies Act, 2013, or in the case of assets where the useful life was determined by technical evaluation, over the
useful life so determined.

The useful lives are determined at the time the asset is acquired and reviewed periodically, including at each financial year
end. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact
their life, such as changes in technical or commercial obsolescence arising from changes or improvements in production or
from a change in market demand of the product or service output of the asset. Refer note 2.5, 3 and 29 for further disclosure.

b) Provision for income tax and deferred tax assets :

The Company uses estimates and judgements based on the relevant rulings in the areas of allocation of revenue, costs,
allowances and disallowances which is exercised while determining the provision for income tax. Significant management
judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing
and the level of future taxable profits together with future tax planning strategies. Accordingly, the Company exercises its
judgement to reassess the carrying amount of deferred tax assets at the end of each reporting period. Refer note 2.18, 9 and
33 for further disclosure.

c) Defined Benefit Obligation:

The costs of providing post-employment benefits are charged to the Statement of Profit and Loss in accordance with Ind AS
19 'Employee benefits’ over the period during which benefit is derived from the employees’ services. The costs are assessed
on the basis of assumptions selected by the management. These assumptions include salary escalation rate, discount rates,
expected rate of return on assets, attrition rates and mortality rates. All assumptions are reviewed at each reporting date.
Refer note 2.16 and 32 for further disclosure.

d) Fair value measurement of Financial Instruments:

When the fair values of financial assets and financial liabilities recorded in the Balance Sheet cannot be measured based on
quoted prices in active markets, their fair value is measured using valuation techniques, including the discounted cash flow
model, which involve various judgements and assumptions. Judgements include considerations of inputs such as liquidity
risk, credit risk and volatility Changes in assumptions about these factors could affect the reported fair value of financial
instruments. Refer note 2.14 and 34 for further disclosure.

e) Revenue recognition over time in Construction Contracts:

The Company recognises revenue from contracts with customers over time i.e. on the basis of stage of completion based
on the proportion of contract costs incurred at Balance Sheet date, relative to the total estimated costs of the contract at
completion. The recognition of revenue and profit/loss therefore rely on estimates in relation to total estimated costs of each
contract. Cost contingencies are included in these estimates to take into account specific uncertain risks, or disputed claims
against the Company arising within each contract. These contingencies are reviewed by the Management on a regular basis
throughout the contract life and adjusted where appropriate. Refer note 2.15, 22 and 39 for further disclosure.

f) Provisions and contingencies:

The Company estimates the provisions that have present obligations as a result of past events and it is probable that outflow
of resources will be required to settle the obligations. These provisions are reviewed at the end of each reporting period and
are adjusted to reflect the current best estimates. The timing of recognition requires application of judgement to existing
facts and circumstances which may be subject to change. Refer note 2.19 for further disclosure.

In the normal course of business, contingent liabilities may arise from litigation and other claims against the Company
Potential liabilities that are possible but not probable of crystallising or are very difficult to quantify reliably are treated as
contingent liabilities. Such liabilities are disclosed in the notes but are not recognised. Contingent assets are neither
recognised nor disclosed in the financial statements. Refer note 38 for further disclosure.

2.4 Current / Non-Current Classification:

The Company presents assets and liabilities in the Balance Sheet based on current/ non-current classification. An asset is treated
as current when it is:

i. Expected to be realised or intended to be sold or consumed in normal operating cycle

ii. Held primarily for the purpose of trading

iii. Expected to be realised within twelve months after the reporting period, or

iv. Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after
the reporting period. All other assets are classified as non-current.

A liability is current when:

i. It is expected to be settled in normal operating cycle

ii. It is held primarily for the purpose of trading

iii. It is due to be settled within twelve months after the reporting period, or

iv. There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The
Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

For the purpose of current/non-current classification of assets and liabilities, the Company has ascertained its normal operating
cycle as twelve months. This is based on the nature of services and the time between the acquisition of assets or inventories for
processing and their realization in cash and cash equivalents.

2.5 Property, Plant and Equipment:

a) Measurement at recognition:

Property, plant and equipment are stated at cost, net of recoverable taxes, trade discount and rebates less accumulated
depreciation and impairment losses, if any Such cost includes purchase price, borrowing cost and any cost directly
attributable to bringing the assets to its working condition for its intended use, net charges on foreign exchange contracts
and adjustments arising from exchange rate variations attributable to the assets.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it
is probable that future economic benefits associated with the item will flow to the entity and the cost can be measured reliably

Property, Plant and Equipment not ready for the intended use on the date of the Balance Sheet are disclosed as “capital
work-in-progress”.

b) Depreciation:

Depreciation on each part of an item of property plant and equipment is provided using the Written down Value (WDV)
Method based on the useful life of the asset.

Useful life and residual value prescribed in Schedule II of the Companies Act, 2013 are considered except in the following
cases where useful life is supported by the technical evaluation considering business specific usage, the consumption
pattern of the assets and the past performance of similar assets:

The useful lives, residual values of each part of an item of property, plant and equipment and the depreciation methods
are reviewed at the end of each financial year. If any of these expectations differ from previous estimates, such change is
accounted for as a change in an accounting estimate.

c) Derecognition:

The carrying amount of an item of property, plant and equipment is derecognized on disposal or when no future economic
benefits are expected from its use or disposal. The gain or loss arising from the derecognition of an item of property, plant
and equipment is measured as the difference between the net disposal proceeds and the carrying amount of the item and is
recognized in the Statement of Profit and Loss when the item is derecognized.

2.6 Intangible Assets:

a) Measurement at recognition:

Intangible assets i.e. Software acquired separately are measured on initial recognition at cost. Subsequently intangible
assets are carried at cost less accumulated amortization and accumulated impairment loss, if any

b) Amortization:

Intangible Assets are amortized on a Straight-Line basis over the estimated useful economic life. The amortization expense
on intangible assets is recognized in the Statement of Profit and Loss. The estimated useful life of software is considered
6 years.

The amortization period and the amortization method for an intangible asset is reviewed at the end of each
financial year. If any of these expectations differ from previous estimates, such change is accounted for as a
change in an accounting estimate.

c) Derecognition:

The carrying amount of an intangible asset is derecognized on disposal or when no future economic benefits are expected
from its use or disposal. The gain or loss arising from the Derecognition of an intangible asset is measured as the difference
between the net disposal proceeds and the carrying amount of the intangible asset and is recognized in the Statement of
Profit and Loss when the asset is derecognized

2.7 Borrowing Costs:

Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the arrangement of borrowings
and exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the
interest cost.

Borrowing costs, if any, directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized. All other borrowing costs are expensed in the
period in which they occur.

2.8 Impairment of non-financial assets:

Assets that are subject to depreciation and amortization are reviewed for impairment, whenever events or changes in
circumstances indicate that carrying amount may not be recoverable. Such circumstances include, though are not limited to,
significant or sustained decline in revenues or earnings and material adverse changes in the economic environment.

The Company assesses at each reporting date as to whether there is any indication that any property, plant and equipment
and intangible assets or group of assets, called cash generating units (CGU) may be impaired. If any such indication exists, the
recoverable amount of an asset or CGU is estimated to determine the extent of impairment, if any. When it is not possible to
estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU to which the
asset belongs.

An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset’s carrying amount exceeds its recoverable
amount. The recoverable amount is higher of an asset’s fair value less cost of disposal and value in use. Value in use is based on the
estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects current market assessments
of the time value of money and risk specific to the assets.

The impairment loss recognised in prior accounting period is reversed if there has been a change in the estimate of
recoverable amount.

2.9 Investment in Subsidiary and Joint Venture:

The Company has elected to recognize its investments in subsidiaries and joint venture at cost (net of impairment, if any) in
accordance with the option available in Ind AS 27, 'Separate Financial Statements’. Refer note 6 for further disclosure.

2.10 Inventory:

a) Construction Materials:

Construction materials are valued at lower of cost or net realizable value, on the basis of weighted average method after
providing for obsolescence and other losses, where considered necessary. Cost of inventory comprises all costs of purchase,
duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in bringing the
inventory to their present location and condition.

b) Work in Progress:

Work-in-progress represents cost incurred directly in respect of construction activity and indirect construction cost
to the extent to which the expenditure is related to the construction or incidental thereto is valued at lower of cost or net
realizable value.

c) Wooden Shuttering material:

Wooden shuttering materials included in the work-in-progress are valued at cost less charged off to statement of Profit and
Loss based on their usages for the construction activity.

d) Finished goods and Stock-in-trade:

Finished goods and stock-in-trade (in respect of goods acquired for trading) are valued at lower of weighted average cost
or net realizable value. Cost includes cost of purchase, costs of conversion, duties, taxes (other than those subsequently
recoverable from tax authorities) and all other costs incurred in bringing the inventories to their present location and condition.

2.11 Site establishment cost :

Site establishment cost incurred at the initial stage of the project execution are amortized over the tenure of respective project.
Unamortized site establishment costs are disclosed under other current assets.

2.12 Financial Instrument:

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity.

Financial Assets:

a) Initial recognition and measurement:

All financial assets are initially recognized at fair value, except for Trade Receivable which are initially measured at transaction
price. Transaction costs that are directly attributable to the acquisition of financial assets, which are not at fair value through
profit or loss, are adjusted to the fair value on initial recognition. Purchase and sale of financial assets are recognised using
trade date accounting.

b) Subsequent measurement:

i. Financial assets measured at amortized cost:

A financial asset is measured at amortised cost if it is held within a business model whose objective is to hold the asset
in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to
cash flows that are solely payments of principal and interest on the principal amount outstanding.

ii. Financial assets measured at fair value through other comprehensive income (FVTOCI):

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both
collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise
on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

iii. Financial assets measured at fair value through profit and loss (FVTPL):

A financial asset which is not classified in any of the above categories are measured at FVTPL.

c) Impairment of financial assets:

In accordance with Ind AS 109, the Company uses 'Expected Credit Loss’ (ECL) model, for evaluating impairment of financial
assets other than those measured at fair value through profit and loss (FVTPL).

Expected credit losses are measured through a loss allowance at an amount equal to:

1. The 12-months expected credit losses (expected credit losses that result from those default events on the financial
instrument that are possible within 12 months after the reporting date); or

2. Full lifetime expected credit losses (expected credit losses that result from all possible default events over the life of the
financial instrument)

For trade receivables, the Company uses the provision matrix based on historical default rates to determine impairment loss
on the portfolio of trade receivables. At every reporting date these historical default rates are reviewed and changes in the
forward looking estimates are analysed.

For other assets, the Company uses 12 month ECL to provide for impairment loss where there is no significant increase in
credit risk. If there is significant increase in credit risk full lifetime ECL is used.

Financial Liabilities

a) Initial recognition and measurement:

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees of recurring nature
are directly recognised in the Statement of Profit and Loss as finance cost.

b) Subsequent measurement:

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other payables maturing
within one year from the Balance Sheet date, the carrying amounts approximate fair value due to the short maturity of
these instruments.

Derecognition of financial instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire
or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109. A financial liability (or a part

of a financial liability) is derecognized from the Company's Balance Sheet when the obligation specified in the contract is
discharged or cancelled or expires.

c) Supplier Finance Arrangement:

The Company enters into supplier finance arrangements under which finance providers pay the Company's suppliers the
amounts they are due, and the Company agrees to settle the related amounts with the finance providers at the same date or
a later date.

Based on an assessment of the terms and conditions of these arrangements, including factors such as extension of
payment terms, involvement of a financing intermediary, and the nature of the obligation, the Company has determined that
such arrangements represent financing transactions. Accordingly the related liabilities are classified as borrowings in the
statement of financial position.

When a financial institution settles the payable with the supplier under the arrangement, the Company evaluates whether the
original trade payable should be derecognised. Derecognition of the trade payable occurs when the Company’s obligation
to the supplier is extinguished, i.e., when the supplier has been paid and the Company no longer has a present obligation
towards the supplier.

Payments made to financial institutions under these arrangements are classified as financing cash flows in the statement of
cash flows.

2.13 Foreign Currency Transaction and Translation:

a) Initial Recognition:

On initial recognition, transactions in foreign currencies entered into by the Company are recorded in the functional currency
(i.e. Indian Rupees), by applying to the foreign currency amount, the spot exchange rate between the functional currency and
the foreign currency at the date of the transaction. Exchange differences arising on foreign exchange transactions settled
during the year are recognized in the Statement of Profit and Loss.

b) Measurement of foreign currency items at reporting date:

Foreign currency monetary items of the Company are translated at the closing exchange rates. Non-monetary items that
are measured at historical cost in a foreign currency, are translated using the exchange rate at the date of the transaction.
Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date
when the fair value is measured.

Exchange differences arising out of these translations are recognized in the Statement of Profit and Loss.

2.14 Fair Value of financial instruments:

The Company measures financial instruments at fair value in accordance with the accounting policies mentioned above. Fair value
is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer
the liability takes place either:

Q In the principal market for the asset or liability, or

Q In the absence of a principal market, in the most advantageous market for the asset or liability
Fair value hierarchy:

All assets and liabilities for which fair value is measured or disclosed in the standalone financial statements are categorized within
the fair value hierarchy that categorizes into three levels, described as follows, the inputs to valuation techniques used to measure
value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1
inputs) and the lowest priority to unobservable inputs (Level 3 inputs).

Level 1 — quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 — inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly
or indirectly

Level 3 — inputs that are unobservable for the asset or liability

Assets and liabilities that are recognized in the standalone financial statements at fair value on a recurring basis, the Company
determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization at the end of each
reporting period and discloses the same.

2.15 Revenue Recognition:

Revenue from Contracts with Customers:

The Company recognises revenue from contracts with customers when it satisfies a performance obligation by transferring
promised goods or service to a customer The revenue is recognised to the extent of transaction price allocated to the performance
obligation satisfied. Performance obligation is satisfied over time when the transfer of control of good or service to a customer
is done over time and in other cases, performance obligation is satisfied at a point in time. For performance obligation satisfied
over time, the revenue recognition is done by measuring the progress towards complete satisfaction of performance obligation.
The progress is measured in terms of a proportion of actual cost incurred to-date, to the total estimated cost attributable to the
performance obligation.

For contracts where the aggregate of contract cost incurred to date plus recognised profits (or minus recognised losses as the case
may be) exceeds the progress billing, the surplus is shown as contract asset and termed as “Due from customers”. For contracts
where progress billing exceeds the aggregate of contract costs incurred to-date plus recognised profits (or minus recognised
losses, as the case may be), the surplus is shown as contract liability and termed as “Due to customers”. Amounts received before
the related work is performed are disclosed in the Balance Sheet as contract liability and termed as “Advances from customer”. The
amounts billed on customer for work performed and are unconditionally due for payment i.e only passage of time is required before
payment falls due, are disclosed in the Balance Sheet as trade receivables. The amount of retention money held by the customers
pending completion of performance milestone is disclosed as part of contract asset and is reclassified as trade receivables when
it becomes due for payment.

Transaction price is the amount of consideration to which the Company expects it to be entitled in exchange for transferring goods
or services to a customer excluding amounts collected on behalf of a third party. Variable consideration is estimated using the
expected value method or most likely amount as appropriate in a given circumstance. Payment terms agreed with a customer are
as per business practice and the financing component, if significant, is separated from the transaction price and accounted as
interest income.

Costs to obtain a contract which are incurred regardless of whether the contract was obtained are charged-off in profit and loss
immediately in the period in which such costs are incurred. Incremental costs of obtaining a contract, if any, and costs incurred to
fulfil a contract are amortised over the period of execution of the contract in proportion to the progress measured in terms of a
proportion of actual cost incurred to-date, to the total estimated cost attributable to the performance obligation.

When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of
contract cost incurred that are likely to be recoverable. An expected loss on the contract is recognized as an expense immediately.

The differences between the timing of our revenue recognised (based on costs incurred) and customer billings (based on
contractual terms) results in changes to revenue in excess of billing or billing in excess of revenue.

Cost incurred towards future contract activity is classified as project work in progress.

Sale of goods:

Revenue from sale of goods is recognised when the control of the same is transferred to the customer and it is probable that the
Company will collect the consideration to which it is entitled for the exchanged goods.

Performance obligations in respect of contracts for sale of manufactured and traded goods is considered as satisfied at a point in
time when the control of the same is transferred to the customer and where there is an alternative use of the asset or the company
does not have either explicit or implicit right of payment for performance completed till date.

Professional and Consultancy Income:

Revenue from consulting services is recognised in the accounting period in which the services are rendered.

Rental Income:

Income earned by way of leasing or renting out of plant and machinery is recognised as income. Initial direct cost is recognised as
expenses on accrual basis in the Statement of Profit and Loss in the year of lease.

Interest and dividend:

Interest income is accrued on a time proportion basis, by reference to the principal outstanding and effective interest rate applicable.
Dividend income is recognised when the right to receive payment is established.

2.16 Employee Benefits:

a) Short Term Employee Benefits:

The undiscounted amount of short term employee benefits expected to be paid in exchange for the services rendered by
employees are recognised as an expense during the period when the employees render the services.

b) Post-Employment Benefits:

I. Defined Contribution plans:

A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions
to separate entities. The Company makes specified monthly contributions towards Provident Fund, State Insurance,
and Pension Scheme. The Company’s contribution is recognised as an expense in the Statement of Profit and Loss
during the period in which the employee renders the related service.

II. Defined Benefit plans:

The Company provides for gratuity, a defined benefit plan, covering eligible employees in accordance with the
provisions of the Code on Social Security, 2020 (effective from 21 November 2025 by Central Government notification).
Permanent employees become eligible for gratuity upon completion of five years of continuous service, while fixed-
term employees are eligible for gratuity on a pro-rata basis once they complete continuous service of not less than one
year, in line with Section 53 of the Code. The gratuity benefit is calculated at 15 days’ wages for each completed year of
service, based on the last drawn wages as defined under the Social Security Code.

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit Credit
Method and spread over the period during which the benefit is expected to be derived from employees’ services.
Re-measurement of defined benefit plans in respect of post-employment are charged to the Other Comprehensive
Income. Such re-measurements are not reclassified to the Statement of Profit and Loss in the subsequent periods.

c) Other long term employee benefits

All other long term employee benefit which do not fall due wholly within twelve months after the end of the period in which
the employee render the related services are determined based on actuarial valuation or discounted present value method
carried out at each Balance Sheet date. The expected cost of accumulating compensated absence is determined by
actuarial valuation performed by an independent actuary as at 31 March every year using projected unit credit method on
additional amount expected to be paid/availed as a result of unutilised entitlement that has accumulated at the Balance
Sheet date. Expense on non-accumulating compensated absence is recognised in the period in which the absences occur.

2.17 Exceptional items:

An item of income or expense which by its size, type or incidence requires disclosure in order to improve an understanding of the
performance of the Company is treated as an exceptional item and disclosed as such in the financial statements.

2.18 Income Taxes:

The tax expense for the period comprises current and deferred tax. Tax is recognised in Statement of Profit and Loss, except to
the extent that it relates to items recognised in the comprehensive income or in equity. In which case, the tax is also recognised in
other comprehensive income or equity.

a) Current tax:

Current tax is the amount of income taxes payable in respect of taxable profit for a period. Taxable profit differs from 'profit
before tax’ as reported in the Statement of Profit and Loss because of items of income or expense that are taxable or
deductible in other years and items that are never taxable or deductible in accordance with applicable tax laws. Current tax
is measured using tax rates that have been enacted by the end of reporting period for the amounts expected to be recovered
from or paid to the taxation authorities.

b) Deferred tax:

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the standalone
financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability
is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the
end of the reporting period. The carrying amount of deferred tax liabilities and assets are reviewed at the end of each
reporting period

c) Presentation of current and deferred tax:

Current and deferred tax are recognized as income or an expense in the Statement of Profit and Loss, except when they
relate to items that are recognized in Other Comprehensive Income, in which case, the current and deferred tax income/
expense are recognized in Other Comprehensive Income.

The Company offsets current tax assets and current tax liabilities, where it has a legally enforceable right to set off the
recognized amounts and where it intends either to settle on a net basis, or to realize the asset and settle the liability
simultaneously In case of deferred tax assets and deferred tax liabilities, the same are offset if the Company has a legally
enforceable right to set off corresponding current tax assets against current tax liabilities and the deferred tax assets and
deferred tax liabilities relate to income taxes levied by the same tax authority on the Company